Insurance companies are notorious in what they cover. They use deductible calculators with depreciation added to each year the item in question was in service. I do not remember how much they deduct but I think it is like 15% a year. So, that TV, in their calculator would be covered, if they are to covered to about $900? I say that TV perhaps is truly worth a lot less in the secondary market. If I see that same TV in the second hand market for about $600...I would pay perhaps $300 TOPS to get it working. And even then, I would keep my fingers cross that the fix will be a lasting one. The way you see the situation would be different but being that there are so many TVs and their prices are dropping as we speak, it is something that you need to take into consideration. Perhaps it is an easy fix but perhaps it may require entire boards to be replaced...and that in itself might not be all that affordable.